Marcus & Millichap announced that its IPA Capital Markets division arranged $44 million in financing for two luxury multifamily properties in Los Angeles, California. The financing supports Moderno Axis, a 126-unit apartment complex in the Van Nuys neighborhood, and Moderno La Granada Hills, a 54-unit apartment community with ground-floor retail space in Granada Hills.
The financing package includes $28.305 million for Moderno Axis and $15.725 million for Moderno La Granada Hills. The loans were secured with a national bank on behalf of a private client and were structured as five-year fixed-rate, non-recourse loans with full-term interest-only payments. The agreements also include step-down prepayment terms and no lender origination fees. Interest rates were locked at 5.40 percent and 5.60 percent.
The transaction was arranged by Anita Paryani-Rice, senior managing director in Marcus & Millichap’s Los Angeles office, who led the financing effort through the firm’s IPA Capital Markets platform.
Moderno Axis is located at 7650 Van Nuys Boulevard near the Van Nuys MetroLink and Amtrak Station. The property includes a mix of studio, one-bedroom, and two-bedroom apartments. Amenities at the complex include in-unit laundry, a fitness center, swimming pool, jacuzzi spa, bike storage, fire pits, a barbeque area, a dog park, and an on-site pet grooming spa.
Moderno La Granada Hills is a newly built Spanish-style residential community located at 17454 Chatsworth Street near California State University Northridge. The property offers studio to two-bedroom units that are pet friendly and equipped with in-unit laundry and central air and heating. Community amenities include a fitness center, a pool with jacuzzi spa and sundeck, a dog park with grooming facilities, a recreation room with gaming and media space, a media theater, firepit and barbeque areas, private parking, and bike storage. The development also features neighborhood-serving retail space on the ground level.
IPA Capital Markets, a division of Marcus & Millichap, provides financing solutions for commercial real estate transactions, including debt, mezzanine financing, preferred and joint venture equity, and sponsor equity. Marcus & Millichap reported closing 8,818 transactions totaling $50.8 billion in sales volume in 2025 and operates more than 80 offices across the United States and Canada with over 1,800 investment sales and financing professionals.
KEY QUOTES
“This financing reflects the strong demand we continue to see for high-quality multifamily assets in Los Angeles. The lender recognized both properties’ strong performance, premier amenities, and exceptional locations, enabling us to secure highly competitive terms and structure a solution aligned with our client’s long-term strategy.”
Anita Paryani-Rice, Senior Managing Director, Marcus & Millichap
